Corn prices edge down after record high

Posted:
Tuesday, July 31, 2012 6:18 PM EDT

CHICAGO (KWWL) -

The price of corn is edging down, a relief after hitting a record high.

Corn prices have soared as a brutal drought has dried out fields across much of the country, particularly big corn producers like Indiana and Illinois. On Monday, corn for September delivery hit a record of $8.20 per bushel.

On Tuesday Corn for December delivery, the most active contract, fell 8.75 cents to $8.05 per bushel.